United - Red Knights on Hold!

Any aspirations the 'Red Knights` group had of buying the club from the Glazer family has been put on hold.

With the Glazer family announcing, last week, that the club was not for sale, a statement has been issued implying the 'Red Knights` have not given up their quest and their ambition remains to pursue its efforts,

"To try and help bring ownership of Manchester United to its supporters and under a structure with materially less debt."

"As we have maintained however since news of our ambitions first emerged in March, we will only attempt to purchase the club at a sensible price, consistent with the long term interests of the club."

"Persistent speculation in the media inflated valuation aspirations has made our goals less attainable, as potential investors have strongly reinforced our views that we should not move forward at a price uneconomic for the future of the club."

So, nothing changes in the immediate future then as the Glazer family continue t hold the brand name they craved!

Comments

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I understand why they didnt want to let super rich foreign investors in on the deal - but the bid was doomed as soon as they started talking about maintaining some of the debt. The only positive we can draw is that the glazers insistence that we're in a good enough financial position to deal with the debt is more credible. When the recent accounts were released any signs of weakness would have indicated that the glazers might be susceptible to a bid. Instead, they showed decent growth and I think that is what finally put the red knights off.